MAS Financial Services Ltd Share Price – NSE  /  BSE

Finance, Small Cap

The benchmark indices trade near the flat line with tiny gains in mid-morning trade. The Nifty traded above the 22,400 level. Realty shares witnessed profit booking after advancing in the past three consecutive trading sessions.

At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 50.83 points or 0.07% to 73,902.87. The Nifty 50 index added 6 points or 0.03% to 22,408.40.

In the broader market, the S&P BSE Mid-Cap index was flat and the S&P BSE Small-Cap index added 0.37%.

The market breadth was strong. On the BSE, 1,979 shares rose and 1,588 shares fell. A total of 161 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 4.13% to 10.70. Volatility zoomed as traders roll over positions in the F&O segment from the near month April series to May series. The April 2024 F&O contracts will expire today, 25 April 2024.

Politics:

The second phase of voting will be held on April 26 in 89 constituencies spread across 13 states and Union territories. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called Indian National Developmental Inclusive Alliance (INDIA) bloc to deny PM Modi another victory. The elections will occur in 7 phases, from 19 April to 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

IPO Update:

The initial public offer (IPO) of JNK India received 1,66,20,516 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 11:20 IST on Wednesday (25 April 2024). The issue was subscribed 1.50 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index slipped 1.34% to 952.85. The index rallied 4.26% in past three consecutive trading sessions.

Macrotech Developers (down 2.83%), Phoenix Mills (down 2.57%), Prestige Estates Projects (down 1.41%), Mahindra Lifespace Developers (down 1.34%), DLF (down 1%), Godrej Properties (down 0.96%) and Oberoi Realty (down 0.88%) declined.

On the other hand, Brigade Enterprises (up 1.14%), Sobha (up 0.18%) and Sunteck Realty (up 0.16%) edged higher.

Stocks in Spotlight:

MAS Financial Services surged 7.14% after the company’s net profit jumped 22.5% to Rs 68.05 crore in Q4 FY24 as compared with Rs 55.55 crore posted in corresponding quarter last year. Revenue from operations increased 23% YoY to Rs 328.10 crore during the quarter.

Jubilant Pharmova rose 0.18%. The company said that the United States Food and Drug Administration (USFDA) has concluded audit of the Radiopharmaceutical manufacturing facility at Montreal, Canada.

Global Markets:

Asian stocks traded mixed on Thursday after two straight days of rallies, mirroring moves on Wall Street. Markets in Australia and New Zealand are closed for a public holiday.

The Bank of Japan kicks off its monetary policy meeting Thursday. Due to be published on Friday, investors will monitor the outcomes from the Bank of Japan, especially for any action to restrict the yen weakness.

Wall Street ended on a mixed note on Wednesday as traders assessed bleak outlook from Meta Inc., one of the magnificent seven, and as treasury yields rose following sales of 5-year U.S. Treasury notes. The US first-quarter gross domestic product figures are due on April 25.

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The Board of MAS Financial Services at its meeting held on 24 April 2024 has appointed Vishal Vasu (DIN: 02460597) as an Additional Non-Executive Independent Director of the Company for a term of 5 years with effect from 24 April 2024.

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The Board of MAS Financial Services at its meeting held on 24 April 2024 has approved the borrowings of funds by way of issuance of secured/unsecured Non – Convertible debentures and commercial papers upto an aggregate amount of Rs. 1500 crore and Rs. 500 crore respectively, in one or more tranches through private placement basis.

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Revenue from operations increased 23% YoY to Rs 328.10 crore during the quarter.

Profit before tax increased 29.37% to Rs 91.09 crore in quarter ended 31 March 2024 as compared with Rs 70.41 crore posted in Q4 FY23.

Net interest income (NII) stood at Rs 168 crore in Q4 FY24, registering the growth of 35.14% as compared with Rs 124 crore posted in same quarter last year.

Asset under management (AUM) jumped 25.12% to Rs 10,125.61 crore during the quarter as compared with Rs 8092.56 crore in corresponding quarter last year. Out of the total AUM, maximum growth was recorded in the commercial vehicle loans (up 100% YoY ) followed by salaried personal loans (up 93.13% YoY), SME Loans (up 25.02% YoY), 2 wheeler loans (up 20.88% YoY), Micro enterprises loans (up 13.19% YoY).

Capital Adequacy Ratio (including Tier ll capital) as of 31st March 2024 stood at 24.05%, The Tier-l capital stood at 20.13%.

The company continues to carry a management overlay of (Rs 18.79 crore as on 31st March 2024, O.24% of the on book assets.

The MSME segment contributed around 60% in the YoY AUM growth of the company while other products also contributed meaningfully.

During the quarter, the company's long term bank facilities and non-convertible debentures rating has been upgraded to CARE AA- (Outlook: Stable) from CARE A+ (Outlook: Positive) by CARE Ratings (CARE).

Meanwhile, the company’s board declared a dividend of Rs 0.51 per equity share for FY24.

Further, the board has approved the borrowings of funds by way of issuance of secured/unsecured non – convertible debentures and commercial papers upto an aggregate amount of Rs 1,500 crore and Rs 500 crore respectively, in one or more tranches through private placement basis .

Kamlesh Gandhi - founder, chairman & managing director, said, “As we usher in to the next phase, post reaching an important milestone of (10,000 crore in AUM, we are confident to maintain a fundamentally strong growth momentum. Adequate capitalization, strong asset quality and a track record of more than 25 years to navigate across various cycles will ensure the same thus creating value on a large scale for all its stakeholders.”

MAS Financial Services is a non-deposit accepting NBFC. While the company initially provided consumer durable financing, it currently provides corporate loans to NBFC-MFIs and other NBFCs engaged in retail finance, small ticket business loans, small commercial vehicle loans, two-wheeler loans and machinery finance.

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